I-3 - Taxation Act

Section 1086.23.1 Disposition versions

2017-02-08

1086.23.1. For the purposes of sections 1086.20 to 1086.23, the amount of tax payable by an individual for a taxation year under any of sections 1086.21 to 1086.23, in respect of replacement shares that were not acquired by that individual, is to be determined, if any of the replacement shares that were not acquired relates to an original share described in paragraph b of section 776.1.1 and acquired by the individual in a period specified in the second paragraph of section 776.1.1.1 or 776.1.1.2, as if,

(a)  in the case of tax computed under section 1086.21, the amount of that tax were equal to the aggregate of

i.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph did not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is a share other than such an original share,

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraph i of subparagraph b of the second paragraph of section 1086.21 and subparagraph d of that second paragraph were the replacement shares that may reasonably be considered to relate to shares other than such original shares, and

(3)  the only replacement shares whose non-acquisition is considered for the purposes of subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to shares other than such original shares,

ii.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph does not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share acquired by the individual in the period specified in the second paragraph of section 776.1.1.1,

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraph i of subparagraph b of the second paragraph of section 1086.21 and subparagraph d of that second paragraph were the replacement shares that may reasonably be considered to relate to such original shares acquired by the individual in the period specified in the second paragraph of section 776.1.1.1,

(2.1)  the only replacement shares whose non-acquisition is considered for the purposes of subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to such original shares acquired by the individual in the period specified in the second paragraph of section 776.1.1.1,

(2.2)  the fraction “100/15” provided for in subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were replaced by a percentage of 400%, and

(3)  the percentage of 15% were replaced by a percentage of 25%; and

iii.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph does not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share acquired by the individual in the period specified in the second paragraph of section 776.1.1.2,

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraph i of subparagraph b of the second paragraph of section 1086.21 and subparagraph d of that second paragraph were the replacement shares that may reasonably be considered to relate to such original shares acquired by the individual in the period specified in the second paragraph of section 776.1.1.2,

(3)  the only replacement shares whose non-acquisition is considered for the purposes of subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to such original shares acquired by the individual in the period specified in the second paragraph of section 776.1.1.2,

(4)  the fraction “100/15” provided for in subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were replaced by a percentage of 500%, and

(5)  the percentage of 15% were replaced by a percentage of 20%; and

(b)  in the case of tax computed under section 1086.22 or 1086.23, the percentage of 15% provided for in that section were replaced

i.  by a percentage of 25% in respect of the portion of the excess amount referred to in section 1086.22 or 1086.23, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share acquired by the individual in the period specified in the second paragraph of section 776.1.1.1, or

ii.  by a percentage of 20% in respect of the portion of the excess amount referred to in section 1086.22 or 1086.23, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share acquired by the individual in the period specified in the second paragraph of section 776.1.1.2.

2010, c. 5, s. 184; 2011, c. 1, s. 105; 2017, c. 1, s. 369.

2011-02-17

1086.23.1. For the purposes of sections 1086.20 to 1086.23, the amount of tax payable by an individual for a taxation year under any of sections 1086.21 to 1086.23, in respect of replacement shares that were not acquired by that individual, is to be determined, if any of the replacement shares that were not acquired relates to an original share described in paragraph b of section 776.1.1 and acquired by the individual in the period provided for in the second paragraph of section 776.1.1.1, as if,

(a)  in the case of tax computed under section 1086.21, the amount of that tax were equal to the aggregate of

i.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph did not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is a share other than such an original share,

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraph i of subparagraph b of the second paragraph of section 1086.21 and subparagraph d of that second paragraph were the replacement shares that may reasonably be considered to relate to shares other than such original shares, and

(3)  the only replacement shares whose non-acquisition is considered for the purposes of subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to shares other than such original shares, and

ii.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph did not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share,

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraph i of subparagraph b of the second paragraph of section 1086.21 and subparagraph d of that second paragraph were the replacement shares that may reasonably be considered to relate to such original shares,

(2.1)  the only replacement shares whose non-acquisition is considered for the purposes of subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to such original shares,

(2.2)  the fraction “100/15” provided for in subparagraph ii of subparagraph b of the second paragraph of section 1086.21 were replaced by a percentage of 400%, and

(3)  the percentage of 15% were replaced by a percentage of 25%; and

(b)  in the case of tax computed under section 1086.22 or 1086.23, the percentage of 15% provided for in that section were replaced by a percentage of 25% in respect of the portion of the excess amount referred to in section 1086.22 or 1086.23, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share.

2010, c. 5, s. 184; 2011, c. 1, s. 105.

2010-04-20

1086.23.1. For the purposes of sections 1086.20 to 1086.23, the amount of tax payable by an individual for a taxation year under any of sections 1086.21 to 1086.23, in respect of replacement shares that were not acquired by that individual, is to be determined, if any of the replacement shares that were not acquired relates to an original share described in paragraph b of section 776.1.1 and acquired by the individual in the period provided for in the second paragraph of section 776.1.1.1, as if,

(a)  in the case of tax computed under section 1086.21, the amount of that tax were equal to the aggregate of

i.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph did not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is a share other than such an original share, and

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraphs b and d of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to shares other than such original shares, and

ii.  the amount that would be determined by the formula in the first paragraph of section 1086.21 if

(1)  A, described in the second paragraph of section 1086.21, represented, in the cases where subparagraph i of subparagraph a of that second paragraph did not apply, only the portion of the aggregate of the eligible amounts described in subparagraph ii of subparagraph a of that second paragraph, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share,

(2)  the only replacement shares whose acquisition is considered for the purposes of subparagraphs b and d of the second paragraph of section 1086.21 were the replacement shares that may reasonably be considered to relate to such original shares, and

(3)  the percentage of 15% were replaced by a percentage of 25%; and

(b)  in the case of tax computed under section 1086.22 or 1086.23, the percentage of 15% provided for in that section were replaced by a percentage of 25% in respect of the portion of the excess amount referred to in section 1086.22 or 1086.23, determined in respect of the individual, that may reasonably be attributed to shares each of which is such an original share.

2010, c. 5, s. 184.